Goa mining stamp duty error leads to Rs 108 crore loss

NEW DELHI: The Comptroller and Auditor General (CAG) has stated that the Goa government’s “incorrect working” of stamp duty on 13 mining leases had led to a loss of over Rs 108 crore to the state Exchequer.nnThe CAG report, for the fiscal 2016-17, said that the stamp duty of these 13 leases from January 5, 2015 to February 16, 2016 should have been Rs 169.72 crore, as per proper calculations, instead of Rs 66.45 crore that the state’s Directorate of Mines and Geology (DMG) collected.nnThis, the report said, was a short recovery of stamp duty of Rs 103.27 crore and another Rs 5.16 crore as registration fee on this amount.nn”Thus, failure on the part of the DMG in assessing the correct stamp duty resulted in a short recovery of stamp duty and registration fee amounting to Rs 108.43 crore,” the CAG report stated.nn”Audit scrutiny of 76 mining lease deeds executed by the DMG with the lease-holders, and registered by civil registrars cum sub registrars, has revealed that the stamp duty was incorrectly worked out,” the CAG report pointed out.nnMining leases in the state were renewed in 2014 after the Supreme Court lifted a ban it had imposed in 2012 over allegations of illegal mining.nnSource: Press Trust of India